Exchanges Mull Increased Cooperation to Combat Glitches

The exchange industry is considering increasing backing up each other's stock-pricing data as one of many possible solutions aimed at reducing the number of technology glitches that have caused recent mishaps, a source told FOX Business.

Increased cooperation on this front would include not only rivals NYSE Euronext (NYX) and Nasdaq OMX Group (NDAQ), but the rest of the major exchanges as well, the source said.

Backing up stock-pricing data is just one idea among many that the exchange operators are brainstorming about, the source said. Talks remain at a very preliminary stage.

News of the stock-pricing backup plans was first reported by The Wall Street Journal.

In addition to the high-profile Flash Freeze, the exchange world has been hit by a number of other recent issues, including a system problem at NYSE Euronext last week that caused the U.S. options market to shut down for 10 minutes.

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